Bitcoin (BTC) Drops Below 4,000 After Approaching Historical Resistance Level

Bitcoin has broken below its recently established trading range between roughly $4,000 and $4,100 that was formed a couple of weeks ago. Although BTC has been somewhat stable as of late, this lack of major volatility should not fool traders as the cryptocurrency typically makes a large price swing after long bouts of sideways trading.

Now, Bitcoin is beginning to push up against a key resistance line that the cryptocurrency has failed to break above on multiple occasions over the past year.

Bitcoin (BTC) Drops Below $4,000 as Key Resistance Level Holds 

At the time of writing, Bitcoin is trading down 1.5% at its current price of $3,960 and just recently dropped below its key support level that had been previously established at approximately $4,000.

Over the past week, Bitcoin has been coiling tightly within approximately $4,000 and $4,050 before dropping today. Despite today’s drop being relatively small, the recent lack of volatility will likely be fleeting, as BTC has…

Read Full Story : NewsBTC

2019-03-26 00:00:47

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